Property Market 2015

Cuddlesworth

Sam the Sham wrote: »

So, you think that this house has "really bad rising damp" and the sure sign of it is that these 100+ year old floor boards (they are the original floor boards) have dark spots?

I would think that if the "rising damp" were "really bad" the original floorboards would be long gone...

But I also am not the sort to speculate based on what could be digital noise in some very low-res pictures...

I posted a picture of the same problem that occurred in two different pictures in the exact same location from 2 different angles. What part of the house is riddled with rising damp do you not get when the picture of the front of the house is a perfect example of rising damp. There would not be a damp proof course on any other wall in the original house either if the front is that bad. The internal walls behind the plasterboard will be thick with mould. In the spots where the plasterboard is touching the wall(like the fireplace), the water will keep pushing through and bubbling the paint. Overall the wet cold damp walls will lower the house temperature. And you could take a butter knife to those bricks and take them apart with ease. Which should probably be a consideration if you intend on buying the thing for over a quarter of a million Euro. But hey, what do I know about rising damp right?

alastair wrote: »

Why no love for cast iron rads? You can't tell from a photo if they're useless or not. It all depends on the state of their innards, so unless there's some x-ray plugin for photoshop, it'd just be a guess. I've had decent success with restored cast iron rads, and while they take a bit longer to get going, they retain heat longer than pressed steel / alu 'modern' rads. I'd also doubt they're original to this house, so could well be relatively 'new' jobbies.

Been collecting rads for a new gaff, so a little fixated on the subject at the moment. Sorry!

Wrote out a big post, then dropped it as it focused on the radiators and not the system behind them. Basically I don't like cast iron rads as they are thermally inefficient and when paired with a modern heating system are pointless.

It's important to point out, a radiator isn't meant to retain heat, it's meant to transfer heat to the air to warm up the room. A modern rad does this through the fins in the middle, maximising the surface area and causing a cold air to draw up from the floor, past the fins and out the top of the radiator. The end result is a whole room that gets warm very quickly.

Old cast iron rads while looking good in particular settings, don't do that very well. They tend to give the impression of projecting heat(a fair bit of which goes into the wall behind them). Which is why in a mixed system, 30 minutes after turning off the heating the old rads will be piping hot and the new radiators will be cold. Lots of people I've met get caught up in that and think that means those radiators are better but it just shows they are inefficient at transferring heat.

So in context of a modern heating system in a insulated house using thermostats and thermostat valves, you can set the system to particular temperature at certain times. The house attains that temperature and stays there. Thats harder to do with cast iron rads and almost impossible without decent insulation.In my case, I don't turn on or off my heating system, It comes on and off as needed to keep a constant 21 degrees.

alastair

Cuddlesworth wrote: »

Wrote out a big post, then dropped it as it focused on the radiators and not the system behind them. Basically I don't like cast iron rads as they are thermally inefficient and when paired with a modern heating system are pointless.

It's important to point out, a radiator isn't meant to retain heat, it's meant to transfer heat to the air to warm up the room. A modern rad does this through the fins in the middle, maximising the surface area and causing a cold air to draw up from the floor, past the fins and out the top of the radiator. The end result is a whole room that gets warm very quickly.

Old cast iron rads while looking good in particular settings, don't do that very well. They tend to give the impression of projecting heat(a fair bit of which goes into the wall behind them). Which is why in a mixed system, 30 minutes after turning off the heating the old rads will be piping hot and the new radiators will be cold. Lots of people I've met get caught up in that and think that means those radiators are better but it just shows they are inefficient at transferring heat.

So in context of a modern heating system in a insulated house using thermostats and thermostat valves, you can set the system to particular temperature at certain times. The house attains that temperature and stays there. Thats harder to do with cast iron rads and almost impossible without decent insulation.In my case, I don't turn on or off my heating system, It comes on and off as needed to keep a constant 21 degrees.

You seem to believe that cast iron rads releasing heat for longer is somehow 'wrong'. It's not, it's simply different. Underfloor heating - generally quite a 'modern' phenomenon in an Irish context, operates on precisely the same principle - slower to come up to tempreture, and slower to cool, once that tempreture has been achieved.

I've a mixture of pressed steel and cast iron rads, in a thermometer-controlled system. I could additionally add thermostatic valves to specific rads for further control. I can also leave the system alone to maintain a constant temp - I just need allow for some rooms cooling more quickly than others, on account of the type of rads in the room. Equally I've UFH in one area of the house - it takes longer again to heat up / cool down. Not better or worse, just different.

athtrasna

Can we get back on topic please?

Cuddlesworth

alastair wrote: »

You seem to believe that cast iron rads releasing heat for longer is somehow 'wrong'. It's not, it's simply different. Underfloor heating - generally quite a 'modern' phenomenon in an Irish context, operates on precisely the same principle - slower to come up to tempreture, and slower to cool, once that tempreture has been achieved.

I've a mixture of pressed steel and cast iron rads, in a thermometer-controlled system. I could additionally add thermostatic valves to specific rads for further control. I can also leave the system alone to maintain a constant temp - I just need allow for some rooms cooling more quickly than others, on account of the type of rads in the room. Equally I've UFH in one area of the house - it takes longer again to heat up / cool down. Not better or worse, just different.

Not wrong, inefficient and wasteful when placed in front of a modern boiler. I like UFH but I see it as a solution to a singular problem, cold concrete/tiled floors.

alastair

Cuddlesworth wrote: »

Not wrong, inefficient and wasteful when placed in front of a modern boiler.

I'll leave it at this:
http://www.diydoctor.org.uk/projects/cast-iron-versus-modern-radiators.htm

athtrasna

Mod note

If you want to talk about rising damp or any other construction related issue please post in the appropriate forum.

jehosephat

I signed up to this board for the express purpose of refuting the falsehoods propagated by someone named Cuddlesworth about a property I am buying: 12 Northbrook Terrace.

Now I find that my response to those falsehoods has been censored (I have no idea why) while the false speculation about my future house has been let stand.

There is money involved here. If I decide to sell the house down the line, the existence of Cuddlesworth's baseless assertions in this forum about rising damp in the house could put buyers off.

I insist that you either reinstate my refutation of Cuddlesworth (my preferred option) or remove every part of this thread that references 12 Northbrook Terrace.

D_D

jehosephat wrote: »

I signed up to this board for the express purpose of refuting the falsehoods propagated by someone named Cuddlesworth about a property I am buying: 12 Northbrook Terrace.

Now I find that my response to those falsehoods has been censored (I have no idea why) while the false speculation about my future house has been let stand.

There is money involved here. If I decide to sell the house down the line, the existence of Cuddlesworth's baseless assertions in this forum about rising damp in the house could put buyers off.

I insist that you either reinstate my refutation of Cuddlesworth (my preferred option) or remove every part of this thread that references 12 Northbrook Terrace.

Jesus, everyone's online either buying or selling this house.

Michael D Not Higgins

jehosephat wrote: »

I signed up to this board for the express purpose of refuting the falsehoods propagated by someone named Cuddlesworth about a property I am buying: 12 Northbrook Terrace.

Now I find that my response to those falsehoods has been censored (I have no idea why) while the false speculation about my future house has been let stand.

There is money involved here. If I decide to sell the house down the line, the existence of Cuddlesworth's baseless assertions in this forum about rising damp in the house could put buyers off.

I insist that you either reinstate my refutation of Cuddlesworth (my preferred option) or remove every part of this thread that references 12 Northbrook Terrace.

If it's true that the surveyor's report says there's no rising damp then anyone who's put off by an internet comment is foolish, no? Why believe someone on the internet with a handful of photos over a paid professional and a physical inspection?

fliball123

bidiots wrote: »

Spot the auctioneer! Buy now quick! where have I heard that before....

Instead of the insult deal with what the chap said..its crazy to think that property will be coming back down its on the rise and while demand outstrips supply and significantly does so the basic ecconomics of it means prices will rise. Add in that recent reports show that people are actually spending more on renting a property than what they would pay for a mortgage will also have people scrambling to the mortgage line..Dont tackle the poster tackle the post

Dearg81

jehosephat wrote: »

I signed up to this board for the express purpose of refuting the falsehoods propagated by someone named Cuddlesworth about a property I am buying: 12 Northbrook Terrace.

Now I find that my response to those falsehoods has been censored (I have no idea why) while the false speculation about my future house has been let stand.

There is money involved here. If I decide to sell the house down the line, the existence of Cuddlesworth's baseless assertions in this forum about rising damp in the house could put buyers off.

I insist that you either reinstate my refutation of Cuddlesworth (my preferred option) or remove every part of this thread that references 12 Northbrook Terrace.

I'd be more worried about the retention permission for the extensions. How did that go?

alastair

Dearg81 wrote: »

I'd be more worried about the retention permission for the extensions. How did that go?

They were allowed. Worry no more.

alastair

<mod snip>

That's not the vendor. It's the buyer. I can vouch for that.

*edit. I'm not the vendor either, before anyone asks!

sarachryan

Why didn't you say if you're associated with the vendor?

alastair

sarachryan wrote: »

Why didn't you say if you're associated with the vendor?

I'm not. There's a long list of other stuff I haven't said too.

ec18

Anyway.......Noonan announced he wants the new rules reviewed by the central bank. Despite being advised to stop interfering by economists......

http://www.irishexaminer.com/budget2016/budget2016-analysis/michael-noonan-to-ask-for-review-of-mortgage-deposit-rules-355587.html

Rew

ec18 wrote: »

Anyway.......Noonan announced he wants the new rules reviewed by the central bank. Despite being advised to stop interfering by economists......

http://www.irishexaminer.com/budget2016/budget2016-analysis/michael-noonan-to-ask-for-review-of-mortgage-deposit-rules-355587.html

It would be madness to interfere again surely?!

swampgas

ec18 wrote: »

Anyway.......Noonan announced he wants the new rules reviewed by the central bank. Despite being advised to stop interfering by economists......

http://www.irishexaminer.com/budget2016/budget2016-analysis/michael-noonan-to-ask-for-review-of-mortgage-deposit-rules-355587.html

One can only hope that he's trying to hide behind the central bank. It does sound more like diversionary delaying tactics than an actual move to change the rules.

If the rules get messed about again, I swear I'll emigrate!

The rules are barely in force. How can they even review them without a full year of data?

I presume he's just trying communicate the message "I get it; these rules are not universally popular; I'll see what I can do" and then when the Central Bank say it's too soon to contemplate changing them he'll say "Well, I tried, but the independent Central Bank wouldn't listen".

I bought a house this year but I'd still prefer if these rules stay in place. The economy is improving but I'd opt for stability over boom/bust/boom/bust.

Victor

jehosephat wrote: »

I signed up to this board for the express purpose of refuting the falsehoods propagated by someone named Cuddlesworth about a property I am buying: 12 Northbrook Terrace.

Are you saying you don't have an existing account on boards.ie?

Now I find that my response to those falsehoods has been censored (I have no idea why) while the false speculation about my future house has been let stand.

The house does seem to have an issue with rising damp. you have said this yourself. We aren't trying to censor discussion - you are.

There is money involved here. If I decide to sell the house down the line, the existence of Cuddlesworth's baseless assertions in this forum about rising damp in the house could put buyers off.

Then fix the damp problem. Get a certificate.

I insist that you either reinstate my refutation of Cuddlesworth (my preferred option) or remove every part of this thread that references 12 Northbrook Terrace.

You post was disruptive, we've deleted it. Otherwise, we're not particularly into censoring discussion.

If you have a problem with a post, report it.

Do not reply to this post on-thread.

Moderator

So, Noonan has been urging the Central Bank to review its (still fairly new) regulations on mortgages and the CB has called in estate agents to get their feedback.
Maybe they are just going through the motions or maybe they are genuinely concerned at the impact on the rents, younger buyers etc.

But I'm sure Honohan will take some perverse comfort in the latest CSO figures which show that house prices took off again in August.

These number might mean the regulations are yet to have a major effect; or maybe it was that last of the pre-regulation mortgage approvals being used up before they expire. Who knows?

At the very least it says it's a bit premature to water down the rules.

Lillydub

At the very least it says it's a bit premature to water down the rules.[/quote]

^^ Agreed...

August CSO stats are out... 2.8% increase in Dublin residential (3% houses)

seamus

Deleted User wrote: »

But I'm sure Honohan will take some perverse comfort in the latest CSO figures which show that house prices took off again in August.

Last gasp of the 10% approvals maybe?

Problem is, if the CB start tinkering again to appease the estate agents, then we're back on a rollercoaster for the next 12 months without any kind of stable baseline established in terms of where we're going.

The latest myhome report shows asking prices down in Dublin for Q3, but the CSO shows a 3.2% rise in sale prices for the first two months of the quarter. So we're still in a weird up-and-down place.

Yeah, at least give it a year and collect a full set of data. There's nothing really to 'review' yet.

It would be very surprising if Honohan, having fought off political and other lobbyists to get the rule introduced, undid this on his way out the door.

No doubt the meeting with estate agents is just regular market intelligence gathering for a big file which will be left on the desk of the next Governor.

Anyway, 3% on Dublin houses. :eek:

Barely Hedged

seamus wrote: »

Last gasp of the 10% approvals maybe?

Problem is, if the CB start tinkering again to appease the estate agents, then we're back on a rollercoaster for the next 12 months without any kind of stable baseline established in terms of where we're going.

The latest myhome report shows asking prices down in Dublin for Q3, but the CSO shows a 3.2% rise in sale prices for the first two months of the quarter. So we're still in a weird up-and-down place.

Or maybe its because the economy is growing at a consistent level and one of the best performing in the western world?

seamus

Barely Hedged wrote: »

Or maybe its because the economy is growing at a consistent level and one of the best performing in the western world?

Yeah, perhaps. Problem is that the increasing house prices isn't reflected in wage growth. That is, while the economy is growing, wages aren't growing quite as fast (though the raw numbers in employment are growing).

House price increases should typically lag behind wage growth. So in the current economy, I would expect prices to stay relatively stable with perhaps modest growth.
That said, we're in a very supply-constrained market at the moment. So if certain sectors are seeing big wage growth, this could affect house prices without necessarily being reflected in the overall wage statistics.

Or it could mean that we're seeing an investor influx. But that seems unlikely. After the carnage of 2006 - 2013, there can't be enough investors dumb enough to get involved in property speculation again.

Barely Hedged

seamus wrote: »

Yeah, perhaps. Problem is that the increasing house prices isn't reflected in wage growth. That is, while the economy is growing, wages aren't growing quite as fast (though the raw numbers in employment are growing).

House price increases should typically lag behind wage growth. So in the current economy, I would expect prices to stay relatively stable with perhaps modest growth.
That said, we're in a very supply-constrained market at the moment. So if certain sectors are seeing big wage growth, this could affect house prices without necessarily being reflected in the overall wage statistics.

Or it could mean that we're seeing an investor influx. But that seems unlikely. After the carnage of 2006 - 2013, there can't be enough investors dumb enough to get involved in property speculation again.

That's assuming the wages in existence need to grow to cover the property purchase price.

A growing economy brings more people into the market as they have confidence in their purchase. This applies equally to investors as to the residential market. Their wages could have covered a property purchase already, just that they were unsure about the market.

kennyb3

I'd imagine it's the extortionate rent (ever increasing with no short term end in sight) that's forcing people into the market and pushing up prices.

We bought only 2 years ago now and our rent would now be €300pm more than our mortgage (which is just bbelow 80% LTV). That's a crazy difference.

Rents and mortgage were neck and neck when we bought.

Anyone with a deposit has to be seriously considering buying given the current rental market.

kennyb3

Barely Hedged wrote: »

That's assuming the wages in existence need to grow to cover the property purchase price.

A growing economy brings more people into the market as they have confidence in their purchase. This applies equally to investors as to the residential market. Their wages could have covered a property purchase already, just that they were unsure about the market.

I'd have to agree - it's not a wage growth issue, it's a confidence one.

You add in the state of the rental market (as noted above), upcoming tax cuts and SRV/LTV mortgage rates that have been coming down and you've a mix of positive factors that weigh heavily against the CB rules.

The_Conductor

However- the flipside of the coin- is a strawpoll taken by Irishlandlords.ie suggest in excess of 30% of current landlords are desperately trying to get out of the sector (primarily because of the crap regulatory regime applicable to landlords in this country).

There are both positive and negative factors at play here.

In addition- wages did not fall throughout the recession- employment rates fell- but wages for pre-existing employees, by and large, did not (with the exception of the public sector).

The new jobs are predominantly of a lesser standard and under worse terms and conditions than pre-existing employees (pretty much across the board). I can't see many of these jobs being a driver of purchasing in the residential property sector.

Personally- I think the slight rise in August prices may very well be the last hurrah for the cash buyers- who are on the verge of extinction (they have been up to 40% of the market for the previous 8 years- but are now in freefall).

I'd be more interested in mortgage draw-down figures- and how they compare- than in absolute sale prices too- given the poor volumes on which the August figures are based. A few big sales- really are such that they can distort the reported figures.........